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DCB (Development Credit Bank has increased interest rates on Non-Resident External (NRE) rupee term deposits of Rs 15-50 lakh and having maturity of 18 months, to 10 per cent with immediate effect. For deposits under Rs 15 lakh for the same tenor, the interest rate is 9.75 per cent, said a press release issued by the bank.
For deposits with a maturity period of 19 months to 24 months, the interest rate is 9.5 per cent.
Bank of Bahrain and Kuwait (BBK) has also hiked interest rates. On NRE term deposits having 18-month maturity the revised interest rate is 9 per cent and for deposit having 18-36 months maturity, the rate is 8 per cent.
The bank has also hiked the interest rate on non-resident savings account, up to 6 per cent, depending on the balance.
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